Asset Price Bubbles: Implications Monetary and Regulatory Policies (Research in Financial Services: Private and Public Policy)

About this book

Since the opening of the 1990s, three events have arguably shaken the public's faith in the efficacy of macroeconomic policy in a world of liberalised capital markets and unrestricted capital flows: the prolonged recession and widespread financial weakness in Japan following the collapse of price bubbles in real estate and equities; the series of financial crises in developing economies; and the recent boom-bust cycle in U.S. equity markets.